London (Platts)--20Nov2012/1030 am EST/1530 GMT
Production of crude steel by the 62 countries reporting to the World Steel Association was 126.1 million mt in October, an increase of 1.3% over the year-ago month, Worldsteel said Tuesday. But average daily production last month fell to 4.07 million mt from 4.12 million mt in September 2012, Platts calculates from the Worldsteel figures. The industry's capacity utilization rate dropped to 76.5% in October from 77.7% in September and was 1.4 percentage points lower than in October 2011. The October figures took total crude steel output in the first 10 months of this year to 1.277 billion mt, just 0.7% more than was produced in the same period of 2011. China's October production of 59 million mt was 6% higher than the same month last year. Of other major Asian producers, only India recorded a year-on-year rise. The month's production fell in Japan (-6.7%), South Korea (-4.9%) and Taiwan (-25.6%). Article continues below...Request a free trial of: Platts SBB Steel Markets DailyPlatts SBB Steel Markets Daily provides transparent daily and weekly assessments of iron ore, coking coal, coke, ferrous scrap and ferroalloys prices, plus insightful analysis and commentary on the day's market activities.
Production of crude steel by the 62 countries reporting to the World Steel Association was 126.1 million mt in October, an increase of 1.3% over the year-ago month, Worldsteel said Tuesday. But average daily production last month fell to 4.07 million mt from 4.12 million mt in September 2012, Platts calculates from the Worldsteel figures. The industry's capacity utilization rate dropped to 76.5% in October from 77.7% in September and was 1.4 percentage points lower than in October 2011. The October figures took total crude steel output in the first 10 months of this year to 1.277 billion mt, just 0.7% more than was produced in the same period of 2011. China's October production of 59 million mt was 6% higher than the same month last year. Of other major Asian producers, only India recorded a year-on-year rise. The month's production fell in Japan (-6.7%), South Korea (-4.9%) and Taiwan (-25.6%).
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Platts SBB Steel Markets Daily provides transparent daily and weekly assessments of iron ore, coking coal, coke, ferrous scrap and ferroalloys prices, plus insightful analysis and commentary on the day's market activities.
October output in the European Union was 14.2 million mt, down 6.2% from October 2011. The largest producing country, Germany, produced 0.3% more, and there were also increases in the UK (up 9.1%) and Romania (up 15.5%). But almost all other EU countries reported falls. Italy was down 10.4%, France 7.2%, Spain 15.6% and Poland 27.5%. Elsewhere in Europe, Turkish output fell nearly 7% year on year to 2.9 million mt in October. CIS output last month rose 4.4% as higher Russian production outweighed falls in Ukraine and Kazakhstan. Crude steel production in North America was down 1.4% from October 2011 to 9.7 million mt. Lower US production was only partially countered by higher output in Canada and Mexico. In South America, the month's output was up 4.7% at 4.2 million mt, thanks to a 7.7% rise in Brazil.--Henry Cooke, henry_cooke@platts.com--Edited by Richard Rubin, richard_rubin@platts.com
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